Gen Z’s 12% Unemployment, Explained - The 10 Minute Talent Rant [Ep 90]

It came as a shock to pretty much everyone that the unemployment rate among 20-29-year-old college grads is hovering at 12%. While the economy in total is under 4%.
The question is: Why? What caused such a disparity? And who is to blame?
The answer? There’s no one cause. You can point your finger in pretty much every direction and be right.
James Hornick and Jeff Smith will breakdown how it happened and what’s at stake long term in episode 90 of The 10 Minute Talent Rant, "Gen Z’s 12% Unemployment, Explained”
Chapters:
0:00 - Intro
3:24 - 4:50 - No One Wants To Train Employees Anymore
4:50 - 6:22 - The Side Hustle Generation
6:22 - 8:58 - How Cost Cutting Gets Expensive

[@vincemartin5323]

Who is going to do senior level work? Incompetent Juniors

[@JohnKerbaugh]

The economically failed seniors working through their retirements.

[@df6597]

It's up to the señors now.

[@BlowUrMindOpen]

I feel like you've really missed out on the psychology of the typical Gen-Z person. For almost the last 10 years of running a business, many of these people have a different philosophy of life and different expectations. They commit time and energy to get an education, then expect that the world is going to pay them handsomely. Anyone that has spent real time working knows that the education is a foundation of knowledge and it takes years to get good at anything, so a high level of pay at a senior level is not realistic. The other part is that they seem to want to have a massive impact on things and expect that their efforts have deep meaning, immediately. There is no understanding that it will take years of hard work to achieve goals and make advancement, they want everything now. I have watched a good hard working past employee bounce between 4 jobs in 5 years trying to find that happy place, often with the excuse that the change has benefited their personal life , like allowing them to work from home, but also they feel like they can make a difference somewhere else. They barely give a specific job a chance before jumping ship and want everything handed to them without real long term investment. Not all are bad, but there is a bigger challenge these days when they are persuaded by unrealistic peacock displays on whatever social media platform of choice.

[@notMattGarska]

When tuition can be tens of thousands of dollars, of course you expect some pay. You're broke otherwise. In some nations, the days of free tuition or cheap tuition are over. You MUST make money immediately or you are fucked. It's a whole scam system that needs a fix, but I definitely wouldn't blame it on "the psychology of the typical Gen-Z person"

[@philmarsh7723]

This is nothing new. And these things are why societies stratify.

[@byungs]

companies don't want to train anyone because they all just leave a year after spending 3-6 months training them. this is due to employees having no loyalty and the "fuck employers and go get your own first" mentality. not to mention the entitled, lazy attitude that they have. training them how to even be a part of the workforce in general is work in of itself. it's just not worth the money to train them, while overpaying them, and then getting shit on them for being unreasonable capitalist pigs, and then finally when they're somewhat useful, they jump ship to somewhere else. fuck that noise. typical gen z and millennials blaming everyone besides themselves for the consequences of their own actions.

[@chris5590]

Why be loyal to a company underpaying you? Its not like it used to be, no gold rolexs getting tossed for retirement. Either youre taking a 1-2% raise every year or you hop ship fairly often to companies for salary increases of 10-20% if not more.

[@byungs]

@@chris5590 maybe you were getting underpaid because you had no training and no prior experience.

[@joehudson7007]

You do understand loyalty is earned, it's not a given. Management and Talent Acquisition are the most entitled ones around. They want the best around, but pay for subpar employees. Workers are doing what is in their best interest because the company will gladly pay the position 10% more for someone with equal experience if they're from out of company if you leave, but if you ask for that as a raise while having any knowledge critical to your role they'll tell you to pack your bags. You can't have it both ways. There is a trade for labor, but you keep lowering what you'll offer, obviously everyone else is gonna lower what they offer in return.

[@joehudson7007]

Companies keep cutting pension plans, offering worse and worse 401k matching, the health insurance keeps getting worse and worse because the employee keeps having to pay more and the company pays less. The pay has been stagnant, so when accounting for inflation, you're getting paid less, and then you also expect everyone to do more work. You want it all for pennies. Cry more you ingrate.

[@byungs]

@@joehudson7007 and that is why we're in the position we are in now. why bother training anyone when you can just poach someone who has already been trained. know that workers have more leverage when they have lots of experience, but new workers all think that they're the shit and don't want to bother putting in the work of the first shitty years.